Stifel Nicolaus Increases Zscaler (NASDAQ:ZS) Price Target to $295.00

Zscaler (NASDAQ:ZS - Free Report) had its price target lifted by Stifel Nicolaus from $270.00 to $295.00 in a report published on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

ZS has been the topic of several other reports. Mizuho increased their target price on shares of Zscaler from $220.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. UBS Group increased their target price on shares of Zscaler from $260.00 to $315.00 and gave the stock a "buy" rating in a research note on Friday. Needham & Company LLC increased their target price on shares of Zscaler from $240.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday. Roth Capital reissued a "neutral" rating on shares of Zscaler in a research note on Wednesday. Finally, JMP Securities increased their target price on shares of Zscaler from $240.00 to $310.00 and gave the stock a "market outperform" rating in a research note on Friday. Ten analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Zscaler currently has an average rating of "Moderate Buy" and an average target price of $275.12.

Zscaler Trading Up 9.1%

ZS traded up $22.92 during midday trading on Friday, hitting $274.03. 9,940,403 shares of the company were exchanged, compared to its average volume of 2,045,319. The company's 50 day simple moving average is $220.62 and its 200 day simple moving average is $206.31. The firm has a market capitalization of $42.40 billion, a price-to-earnings ratio of -1,096.12 and a beta of 1.14. Zscaler has a 1-year low of $153.45 and a 1-year high of $276.49.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The business had revenue of $678.03 million for the quarter, compared to analyst estimates of $667.13 million. During the same period in the prior year, the company posted $0.88 EPS. The company's revenue for the quarter was up 22.6% on a year-over-year basis. On average, equities analysts anticipate that Zscaler will post -0.1 EPS for the current year.

Insider Transactions at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the sale, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Syam Nair sold 28,947 shares of Zscaler stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the completion of the sale, the insider now owns 110,566 shares of the company's stock, valued at $27,641,500. This trade represents a 20.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 241,771 shares of company stock worth $50,165,040 in the last 90 days. Insiders own 18.10% of the company's stock.

Hedge Funds Weigh In On Zscaler

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZS. Global X Japan Co. Ltd. boosted its position in Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after buying an additional 79 shares during the period. ORG Partners LLC lifted its position in shares of Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock worth $26,000 after purchasing an additional 94 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Zscaler during the 1st quarter worth $26,000. Summit Securities Group LLC purchased a new stake in shares of Zscaler during the 4th quarter worth $27,000. Finally, Colonial Trust Co SC purchased a new stake in shares of Zscaler during the 4th quarter worth $28,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Company Profile

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.